FROM The Chief Financial Office r

As the Chief Financial Officer of the Town of Okotoks, I am pleased to share the Town’s financial information in the Annual Report and approved by Council and Town Administration. Additionally, a financial summary has been prepared in accordance with Canadian public sector accounting standards. The Annual Report also recaps the accomplishments achieved in the first year of Okotoks’ Town Council’s 2022-2025 Strategic Plan. This report demonstrates the ongoing dedication of Council and Administration to ensure effective governance and transparency.

Management of the Town of Okotoks is responsible for the preparation, accuracy, objectivity and integrity of the accompanying consolidated financial statements and all other information contained within this Financial Report. Management believes that the consolidated financial statements present fairly the Town’s financial position as at December 31, 2022 and the results of its operations for the year then ended.

This year presented significant challenges that required careful navigation. Town Administration had to contend with unprecedented levels of inflation, price escalation for goods and services, and competition in the employee marketplace. Furthermore, we faced post COVID-19 revenue recovery issues, pressure from the Province of Alberta as they continued to transfer service responsibilities to municipalities, and uncertainty regarding long-term grant opportunities.

In light of these circumstances, our focus remained on preparing for growth and the anticipated delivery of the regional supplemental water solution in the next few years. To achieve this, we aligned funding requests with strategic and operational priorities, enabling us to continue delivering essential services to the community and advancing Council's objectives.

The total consolidated expenses increased from 2021 to 2022 primarily due to the Town returning to pre-pandemic service levels requiring staffing and contractor services. An example of this increase was seen in Parks and Recreation expenses as the Town fully reopened facilities to the public.

Your property tax supports schools and recreational facilities, provides law enforcement and fire protection, maintains town infrastructure, supports events, culture, and the many other services that make Okotoks a great community.

We remain committed to delivering quality services while striking a balance between economic resilience, social responsibility and environmental stewardship. To acknowledge the impact that tax increases have on our residents and balance the need for the additional staffing resources to meet service demands, the Town staggered staffing requirements over the next few years to mitigate against the tax rate implications. In this first year of the four-year budget, we have established a flexible budgetary process that includes the ability to identify significant and incremental changes enabling Council to amend the budget as needed.

As we wrap up year one of the Town’s first four-year budget, the Town is well-positioned to face many of the unknowns as we look forward into the future. The Town takes pride in being fiscally responsible and continues to achieve a strong financial standing. As you review the report, I hope it helps enhance your understanding of the Town’s finances and you find the information useful.

Respectfully,

Ralph Ettenauer, CPA, CMA Chief Financial Officer Town of

Town Vision and Mission Statements

The Town Vision focuses on tomorrow and the direction for the future. The newly elected Town Council has reimagined the Town Vision to align with changing community values as identified through public participation feedback.

Vision

A vibrant, resilient and connected community that fosters the wellbeing of land and people; a community to call home.

Mission

The Town of Okotoks strives to create and nurture an environment in which people are able to pursue the fulfilment of their values, in harmony with the community.

Administration

The Chief Administrative Officer (CAO) leads the Strategic Leadership Team (SLT) consisting of six members. The SLT is the executive branch of Town Administration who work to make Council’s strategic direction a reality.

Organizational Chart

The Town has a fairly flat organizational structure. This enables us to maintain an empowering environment that allows our people to:

› Make decisions to meet the current and future needs of the clients they serve

Town Of Okotoks

› Be flexible, nimble, and adapt to change quickly, while also having clear levels of authority and accountability